BancFirst Corporation Stock Forecast
BancFirst Corporation stock downgraded to Hold/Accumulate
(Updated on May 02, 2024)
The BancFirst Corporation stock price gained 1.47% on the last trading day (Thursday, 2nd May 2024), rising from $90.54 to $91.87. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.38% from a day low at $90.84 to a day high of $92.09. The price has risen in 6 of the last 10 days and is up by 12.02% over the past 2 weeks. Volume fell on the last day by -24 thousand shares and in total, 58 thousand shares were bought and sold for approximately $5.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $92.29 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect BancFirst Corporation stock with a 90% probability to be traded between $80.65 and $91.70 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BANF Signals & Forecast
The BancFirst Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $90.03 and $86.37. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.531%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for BancFirst Corporation stock
BancFirst Corporation finds support from accumulated volume at $91.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.25 between high and low, or 1.38%. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: $88.95 (-3.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (BANF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect BancFirst Corporation to open at $91.60, and during the day (based on 14 day Average True Range), to move between $89.61 and $94.13, which gives a possible trading interval of +/-$2.26 (+/-2.46%) up or down from last closing price. If BancFirst Corporation takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $92.36 (0.53%) than the support at $91.28 (0.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is BancFirst Corporation stock A Buy?
BancFirst Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.423 Hold/Accumulate Downgraded
Predicted Opening Price for BancFirst Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $91.60 ( 0.294%) | $91.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BANF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.85 | 1.07 % | |
| R2 | 92.37 | 0.547 % | ||
| R1 | 92.08 | 0.226 % | ||
| Current price: | 91.87 | |||
| Support | S1 | 91.12 | -0.81 % | |
| S2 | 90.83 | -1.13 % | ||
| S3 | 90.35 | -1.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 92.36 | 0.533 % | ||
| Current price | 91.87 | |||
| Support | S1 | 91.28 | -0.642% | |
| S2 | 89.28 | -2.82% | ||
| S3 | 85.44 | -7.00% |
BANF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.430 | 0.519% |
| 2 | Nov 16, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.430 | 0.487% |
| 3 | Aug 24, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.430 | 0.513% |
| 4 | May 25, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.400 | 0.402% |
| 5 | Feb 23, 2023 | Mar 30, 2023 | Jul 17, 2023 | $0.400 | 0.402% |
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